PM Najib launches Malaysia’s human capital development blueprint

According to The Borneo Post, prime minister Datuk Seri Najib Tun Razak has launched the Human Resources Development Fund (HRDF) National Workforce Human Capital Development Blueprint 2018-2025 on Monday (29 January 2018).

The blueprint is part of HRDF’s efforts to drive the development of the Malaysian workforce. It outlines strategic initiatives to address workforce challenges associated with Industry 4.0, digitisation, and automation such as addressing concerns where the nature of work is changing, with new jobs emerging and old ones disappearing or evolving. The blueprint offers solutions to address both disruption and opportunities.

In the report, human resources minister Dato Sri Richard Riot Jaem, commented: “I take pride in this blueprint as it is a catalyst to realising the Malaysian government’s human capital development agenda and I would also like to take the opportunity to express my deepest gratitude to the Prime Minister Datuk Seri Najib Tun Abdul Razak for launching it.”

Alongside, HRDF chief executive Datuk CM Vignaesvaran Jeyandran said Malaysians are faced with two options as the world becomes more connected and digitalised – embrace the inevitable changes or get left behind.

Additionally, he emphasised that the key to embracing such changes and remaining relevant in tomorrow’s world is by preparing for them today. He said: “Never has the need for innovative solutions for the workforce been as great as today. The fast approaching Fourth Industrial Revolution (IR 4.0) necessitates the urgent upskilling, reskilling and multiskilling of our human capital. This blueprint outlines the steps that HDRF is committed to take to catalyse the preparation of Malaysian talent for this digital reality.

“We worked closely with the World Bank and have gathered input from various stakeholders on best practices. We trust business owners, human resource professionals, learning and development practitioners, as well as employees, parents and young talent seeking to pursue their higher education, will find the data and analysis shared both insightful and helpful,” he added.

He noted that shifts in workplace mechanisms and requirements mean that agencies tasked with human capital development, such as HRDF, have to be more innovative and agile in responding to industry’s need for the right-skilled workforce.

Findings from the World Bank study stated that registration with HRDF increases a firm’s likelihood of training by 24 percentage points and increases the share of workers trained by 19 percentage points.This translates to HRDF-registered firms showing approximately a 3% increase in productivity.

Najib also announced the establishment of ‘The Dewan’ by the Malay Chamber of Commerce Malaysia (DPMM) and the National Chamber of Commerce and Industry Malaysia (NCCIM).

The Dewan presented 16 programmes under four categories – smart partnerships, capacity-building, public outreach and ‘Dewan Global’, to be rolled out within the next six months.

For the strategic smart partnership, The Dewan will work with HRDF to address capacity-building, upskilling and reskilling of the current workforce to prepare for new challenges as well as prepare the future workforce for jobs that have yet to be created as a result of disruptive technologies.

The blueprint highlights the success in building the country’s workforce by outlining recommendations for future-proofing Malaysian talent.